The House of Representatives Ad hoc Committee Investigating the Structure and Accountability of the Joint Venture (JV) Business and Production Sharing Contracts (PSCS) of Nigeria National Petroleum Corporation from 1990 till date has invited the Chairman Federal Inland Revenue Service,
Muhammad Mamman Nami.
Nami is expected to appear before panel on Monday 21st November 2022.
The probe panel chairman, Hon. Abubakar Hassan Fulata who made this known on Wednesday during the committee’s hearing said the non remittance of appropriate tax by the oil companies in Nigeria has serious adverse effects on the economy.
The committee also expressed worry over the inability of the Federal Inland Revenue Service to have access to the Stock Certificate of Crude Oil.
The representatives of FIRS, a Director and Special Assistant were not permitted by the members of the committee to make presentation as they insisted that only the chairman/CEO is expected to speak on behalf of the FIRS.
The FIRS representatives earlier told the committee that FIRS does not have access to the Stock Certificate of of Crude oil being lifted but relied only on the invoice produced and presented to it by the oil companies.
The committee said it will be ridiculous for FIRS to rely on invoice produced by the oil companies instead of the Stock Certificate which gives clearer pictures of the oil being lifted.
The panel is alleging that oil companies are not paying the required taxes while many of them collect huge amount of money from federation account in the name of joint venture with NNPC.
They argued that NNPC continued to pay money running into billions dollars to oill companies in the name of joint venture despite Presidential Directive halting it since 2018.
The representatives of Chevron Nigeria Ltd who appeared before the committee were also sent back as the lawmakers insisted the Chairman/Managing Director of the company must appear to answer questions regarding their activities in the country.
The probe panel adjourned sitting to Monday 21st November, 2022.
